PM in vow to tackle inflation

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Interest rates rose for the fifth time in less than a year on Thursday, up from 5.5% to 5.75% - hitting a level not seen since March 2001.

Mr Brown said he spent the last 10 years as Chancellor making sure the economy is stable.

"We will get to grips with inflation, we always have done in the last 10 years. We will do this now," he told GMTV.

"The economy will continue to grow this year, next year and the year after."

Mr Brown said he understood the "worries and concerns" people might have, but said the Government would act early to avoid a repeat of 10 to 15 years ago, when interest rates rose above 10%.

He added: "I want people to be sure that we will always act to maintain a stable economy, that is a growing economy, by taking early action to deal with anything that happens."